News and Advisories

Kittelson & Carpo Consulting – News and Advisories

We provide monthly updates on the latest news that affect doing business in the Philippines as well as the newest advisories from government agencies that regulate the operations and compliance of local and foreign companies in the country.

The Philippine government is now encouraging local and foreign entrepreneurs to establish or develop their own startup company by offering special incentives and eliminating existing financial constraints to promote innovation in the country’s startup community.

The Bangko Sentral ng Pilipinas (BSP) announced that it is working with various government agencies and corporate partners in the development of credit scoring models and the establishment of a credit risk database to support Micro, Small, and Medium Enterprises (MSMEs) in the country.

The Bangko Sentral ng Pilipinas (BSP), or the central bank of the Philippines, assured the public on Tuesday, August 13, that banks nationwide are not authorized to increase their automated teller machine (ATM) transaction charges without the BSP’s approval.

President Rodrigo Duterte has officially signed into law Republic Act No. 11337, or better known as the Innovative Startup Act, a new law seeking to remove barriers and provide tax benefits to all registered startup companies in the Philippines.

The Securities and Exchange Commission (SEC) issued the proposed rules on Digital Asset Exchange (DAE) on Tuesday, July 16, inviting brokers, dealers, investment houses, investment public, and other interested parties to submit their views, comments, and inputs on the contents of the draft.

Pag-IBIG Fund, otherwise known as the Home Development Mutual Fund (HDMF), extended socialized housing loans to 11,894 members from the minimum-wage and low-income sectors amounting Php4.52 billion in the first half of 2019.

Tax incentives granted to enterprises registered with the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) is now extended until December 2029, following the passage into law of Republic Act (RA) No. 11262, a new law that seeks to amend RA No. 9593, or the Tourism Act of 2009.